(openPR) - Public access to past, current, and future Federal contracting opportunities will promote fair competition.
GAITHERSBURG, Md. — On September 26, 2006, the day President Bush authorized the creation of a federal funding website to provide information on government spending, a similar site quietly marked its ninth month of operation in the private sector. With the President’s signature, Congress enacted the Federal Funding Accountability and Transparency Act to show taxpaying Americans precisely how their government distributes the approximately $300 billion it spends annually for private-sector goods and services. The online resource outlined by the Act is likely to be adapted from an existing technology offered by a private-sector company, such as front-runner netXccel of Maryland. netXccel is an expert in mining federal-spending data, and its fedXccel product is a user-friendly resource for comprehensive information on federal contracting opportunities.
“This legislation will give the American people a new tool to hold their government accountable for spending decisions,” remarked President Bush at the signing ceremony.
The Act sets deadlines for the development of a prototype by July 2007 and a fully functional site by January 2008. Existing systems like fedXccel, which was launched in January of 2006, could be repurposed to serve the government’s interests in far less time, according to Pal. Although competing solutions are emerging, the company appears to have the advantage in that it already has an industry-tested product that makes it easy to find, sort, and view procurement information on all industry and project types. By Pal’s estimate, fedXccel’s head start represents a potential seven-figure savings toward the $9 million earmarked for development.
“Our solution already has the capability to serve up this type of government spending data, which would conserve millions of dollars in terms of the development budget for this effort,” said netXccel chief Gaurav “G.P.” Pal, “and efficient use of taxpayer dollars is what this Act is all about.”
The Office of Management & Budget (OMB) will decide the procurement action for the $15 million that was budgeted to create and manage the technology required to provide data on historic expenditures to the public. The fedXccel solution goes beyond the mandates of the legislation by providing a single data source that tracks past, present, and future Federal spending. Pal asserts that transparency on past expenditures is only part of the solution toward making government procurement more efficient.
”The private sector has always felt that if you truly want fair competition for contracts, there needs to be an affordable and easy-to-use system that provides access to current and future business opportunities,” Pal explained.
netXccel receives $995 annually per customer for access to the fedXccel site. According to Pal, the company is already developing functionality to display data on past expenditures as a response to customer demand. “When it comes to government spending, past performance is a good indicator of future performance,” said Pal.
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For more information on netXccel, visit: www.fedxccel.com/
netXccel Inc
20 Case Street, Suite 100
Gaithersburg, MD 20878
Gaurav "GP" Pal
(240) 899 2656
Press Contact:
Bill Geibler at 410.327.0007 x1247
Round2 Communications
netXccel Corporation, www.netxccel.com is a fast growing internet software company aimed squarely at Small and Medium Businesses looking to grow their public sector practice. The company was spun out of an established technology services in January 2006. netXccel is focused on creating inexpensive, yet comprehensive sales management software that give small and emerging businesses the power they need to grow their public sector practice.
fedXccel, www.fedxccel.com is the flagship product aimed at the US Federal Contracting market. Using their years of experience selling and managing government projects, netXccel management understands the frustrations of the small business owner, and has worked with dozens of small businesses to design an effective system that meets their specific needs.
The company is growingly rapidly, having established an impressive list of customers including IBM, investors, and business partners. State of Maryland’s Department of Business and Economic Development (DBED) and Maryland Technology Development Corporation (TEDCO) are among the early investors in the company.
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